In the world of investments a broker is someone who acts as the middleman between buyers and securities sellers. Brokers are typically required to register with the Securities and Exchange Commission and with a self-regulatory organization, such as the Financial Industry Regulatory Authority. Brokers who work primarily with institutional investors are referred to as institutional brokers, while those who serve the needs of individual investors are called retail brokers.

Job Description

Sales agents who work for retail brokerage companies, and who are licensed to sell securities, are commonly referred to as retail brokers, stockbrokers or the antiquated, but gentile, customer's man or woman. Their official title is ''registered representative.'' These financial professionals may be trained and qualified to provide investment advice on specific types of securities to their clients, but their primary job is to acquire customers and sell securities to generate commissions for their firm.

Licensure

Registered representatives must be licensed before they can work as retail brokers. This involves passing both state and federally-mandated securities examinations including the six-hour Series 7 exam, which is administered by the Financial Industry Regulatory Authority, and the Series 63 Uniform State Laws Exam. A multitude of other licenses cover different types of financial products, including insurance, variable annuities, mutual funds and commodities. Brokers with extensive education and experience may wish to become certified as Chartered Financial Analysts.

Considerations

Broker trainees can start out making around $21,000 per year before commissions, according to the WetFeet.com website. Well established brokers earn around $140,000, but that amount can increase. Top brokers can earn in excess of $250,000. Due to the high potential income associated with these jobs competition can be intense. A master's degree in finance or business, along with professional certification can improve a candidate's chances for employment.

About the Author

Mike Parker is a full-time writer, publisher and independent businessman. His background includes a career as an investments broker with such NYSE member firms as Edward Jones & Company, AG Edwards & Sons and Dean Witter. He helped launch DiscoverCard as one of the company's first merchant sales reps.